Updated Duplex with Fenced
For Sale
$329,900
353 E Alturas St, Tucson, AZ 85705
Two refreshed residences include modern kitchens, updated baths, newer windows, and durable flooring.
Property Size1,752 SF
Price / SF$188.30
Days on Market56
Property Features for 353 E Alturas St
General Information
Standard status
Active
Size
1,752 SF
Property subtype
Multi-Family
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Amenities
fenced yard
Building Details
Year Built
1971
Listing Agency:
HomeSmart
(949) 630-8385
Listed By:
Kevin Andrew Simshauser
Source:
Findahomeaz
Added: Jul 7
Changed: Aug 28
Last Checked: Aug 30 at 6:10PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of HomeSmart
Investment Insights
Based on property information with market context.
Built in 1971, this duplex contains two 2-bedroom, 1-bath residences totaling 1,752 square feet. Both units have updated kitchens and bathrooms, newer windows, fresh paint, and durable flooring. The property also includes a two-car carport and additional off-street parking.
A fenced yard with mature desert landscaping adds outdoor space to the property. The duplex is located minutes from the University of Arizona, providing proximity to the campus while retaining a residential setting. The existing two-unit configuration supports separate occupancy within one property.
A fenced yard with mature desert landscaping adds outdoor space to the property. The duplex is located minutes from the University of Arizona, providing proximity to the campus while retaining a residential setting. The existing two-unit configuration supports separate occupancy within one property.
Key Highlights
- Two 2‑bedroom, 1‑bath units within a 1,752‑square‑foot duplex
- Updated kitchens and bathrooms in both units
- Newer windows, fresh paint, and durable flooring
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$16,924
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.13%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$338,480
$338.5K
Cap Rate 7%
$241,771
$241.8K
Cap Rate 9%
$188,044
$188.0K
Market Conditions
NOI Build-Up for 1,752 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$26.3K $15.00/SF
− Vacancy
−$2.1K −$1.20/SF
EGI
$24.2K $13.80/SF
− OpEx
−$7.3K −$4.14/SF
NOI
$16.9K $9.66/SF
Area
ZIP 85705
Vacancy
8.00%
Lease Rate
$15.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$338,480
Cap Rate 7%
$241,771
Cap Rate 9%
$188,044
Alternative Uses
Best Use
Multifamily LT 5
$241.8K
$211.6K – $282.1K
NOI $16,924 @ 7.0% cap · market cap 5.13%
Second Best
Apartment 5plus
$219.4K
$191.9K – $255.9K
NOI $15,355 @ 7.0% cap · market cap 4.65%
Theoretical Best
Office A
$403.2K
$352.8K – $470.4K
NOI $28,221 @ 7.0% cap · market cap 8.55%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
961
Businesses Nearby
Explore this area
Business Placement
Demographics for 85705, AZ
56,711
Population
29,145
Households
1.9
Avg Household Size
36
Median Age
20%
College-Educated
80%
High-School Grad
13.6 sq mi
ZIP Area
4,170
Density / Sq Mi
$36,606
Median Household Income
$27,220
Median Earnings
$924
Median Rent
$113,700
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Two refreshed residences include modern kitchens, updated baths, newer windows, and durable flooring.
Where is this duplex located?
The property is located at 353 E Alturas St Tucson, AZ.
What is the asking price?
The asking price for this property is $329,900.
What are key features of this property?
This property features: Two 2‑bedroom, 1‑bath units within a 1,752‑square‑foot duplex; Updated kitchens and bathrooms in both units; Newer windows, fresh paint, and durable flooring
